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ernment stocks, and reducing costs to taxpayers. “The program announced today assures cooperating corn producers of price support at $1.25 per bushel (national average) compared with an estimated 80 cents which could have been expected if new feed grain legislation had not been enacted by the Congress last spring. Wheat prices can also be expected to. stav above the estimated 85-90 cents a bushel that would have been likely without an effective feed grain program. However, Department officials pointed out, even the improved program for feed grains with its cushioning effect on wheat prices will not prevent a drop in wheat income.
“Two rates of diversion payment will be offered as before, but the higher rate may be applied to more acres. The payments will be computed as follows: (1) Producers who divert at least 20 percent of their base acres are eligible for payments computed by multiplying the diverted acres by 20 percent of the normal yield times the county’s total price support rate for the feed grain diverted. (2) For diversions between 20 and 40 percent of their acreage, participants will earn payments on this part of the diversion at a rate of 50 percent of the farm’s normal yield times the county support rate.
(3) Those who divert 40 to 50 percent of the base (or 25 acres if this is greater) will receive the 50 percent
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93.8%